My Style Mortgage Loan
- My Style Mortgage Loan
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Happy Dream, Choice Dream
- Various Benefits, “My Style Mortgage Loan”
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- Loan Type
- Real Estate Loan
- Eligibility
- Individuals or individual businesses that provide an apartment or general housing as collateral/mortgage
- Loan Period
- Per Transaction Loan: One-time full re-payment at maturity (within 10 years), principal installment re-payment (within 35 years)
- Loan Limit
- Up to 60% of the collateral evaluation amount (provided, however, that within the effective collateral price)
※ Small deposit amount guarantee system (MCI or purchase payment guarantee) can be utilized
- Special Benefits
- Interest rate discount coupon
- Interest Rate Benefits
- COFIX interest rate
Combined ratio change
- Event Benefits
- Insurance compensation service for accident or fire
- Overview
- Various benefits, “My Style Mortgage Loan”
- Characteristics
- Happy Dream: We protect your dream with various benefits.
- Dream 1. Interest rate discount coupon is offered.
- Dream 2. Combined ratio change is available.
- Dream 3. Complimentary insurance service is offered.
- Eligibility
- Individuals or individual businesses that provide an apartment or general housing as a collateral/mortgage
- Loan Limit Amount
- Up to 60% of the collateral evaluation amount (provided, however, that within the effective collateral price)
※ Small deposit amount guarantee system (MCI or purchase payment guarantee) can be utilized
- Loan Period
- Per Transaction: One-time full re-payment at maturity (within 10 years), equal principal installment repayment (within 35 years)
- Basic Interest Rate
- You can check the lending rate by clicking the “Interest Rate Inquiry” tab above
※ You can check out the accurate lending interest rate information at the nearest branch.
- Repayment Method
- One-time full re-payment at maturity or installment repayment (principal or equal principal installment repayment method)
- Collateral
- Apartment and general housing
- Customer Fee
- Stamp tax, bond discount expense, etc.
- Small Deposit Amount Guarantee System
- Small deposit amount guarantee system refers to the insurance certificate or guarantee that can increase the loan limit corresponding to the small leasehold guarantee amount.
- Seoul Guarantee Insurance MCI
- Guarantee fee is borne by the bank (provided, however, that an additional interest rate of 0.1% is imposed)
- Target Housing: Apartment, row house, multi-household, single
- Korea Housing Finance Corporation MCG
- Guarantee fee is borne by the customer
- Target Housing: Apartment, row house, multiplex, single, multi-household, commercial
- An additional interest rate (0.04%~0.29%) is imposed upon MCG subscription as it is categorized as the loan subject to the housing credit guarantee fund.
- Interest Rate Discount Coupon
- 0.3% discount coupon during the loan term
- How to Use: Up to 2 times per year starting from 3 months of the loan execution, a total of 6 times until the loan maturity date
- Application: Internet banking or at branches
- Combined Ratio Change
- Interest rate discount is available by changing the combined interest rate ratio for COFIX combined rate applicable loan.
- Adjustable Combined Interest Rate Ratio: 10:90 ~ 90:10 (unit of 10%)
- Condition: 1 time after 3 months of the loan execution (during the term for installment repayment loan)
- Complimentary Insurance Service
- This is the insurance coverage service for the loan repayment and loss amount with the insurance fund when property damage and the resulting indemnification liability arises due to an unexpected accident or fire during the loan period.
- Insured Scope: Up to KRW 300 million for accidental death and accident-caused disability, up to KRW 300 million for fire indemnification, and up to KRW 10 million for fire damage or loss
- Note: Subscription is available for per transaction loan, and the fire indemnification and fire damage or loss coverage is provided only when the borrower resides at the collateralized target property.
- Early Repayment Fee
- Discriminative imposition, depending on the remaining period of the loan upon early repayment
- Early Repayment Within 3 Years of the Loan Application: 1.5%
- Early Repayment After 3 Years of the Loan Application: Waived
- The fee is waived when the loan is repaid to the extent of 20% (10% for general housing) of the original loan amount for every year.
- Note
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- Loan amount may be restricted, depending on the customer credit ranking, debt-to-income (DTI) ratio, and our review standards.
- Upon a default regarding the loan repayment or interest payment, the overdue penalty rate shall be applied and any unfavorable property disposition may be imposed, such as set-off with other securities, i.e., deposit, (extinguishing the debt obligations in the same amount by one party’s intent instead of extinguishing the identical respective debt obligations by both parties) or legal proceeding initiation.
- Loans may be restricted if the collateral is an apartment located in the property speculation region or if the borrower is a minor, etc. Please make an inquiry to the branch staff for the detailed information.
